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I think you are missing the key facts here.

Puretech's shareholding in Vedanta was diluted to c4% from c36% following Vedanta's financing round in April 2025 for $105m which Puretech did not participate in.

There was no sale of anything just dilution.

The non disclosure of this important Information is the issue of concern.

Hopefully the company's useless IR department will reply to my email.

I have sent a carefully worded email to IR demanding clarification from the Board of Puretech on the failure to notify investors regarding the material change in its shareholding in Vedanta.

ATB

Rinsed

Sadly you ate wrong.

Vedanta's lead drug VE303 is in Phase 3 and if approved could be a blockbuster.

The fact that Puretech did not notify the market via a RNS of a fundamental change in its shareholding in Vedanta is a serious breach of Stock Exchange rules.

This is the key issue for shareholders imho and created a false market in the valuation of Puretechs assets

It is totally unacceptable and may be down to the utterly incompetent and useless previous management.

I will be in contact tomorrow with Puretechs Investor Relations department and I will be extremely forthright in my comments.

Failure to disclose this fundamental change of ownership in Vedanta is a breach of Stock Exchange rules and a dismissal offence by management.

The Chairman and CEO dismissed shortly after .

Very unsatisfactory

Needs immediate clarification by current Board

Vedanta Biosciences raised $105m in April 2025 to fund the Phase 3 study of its V303 drug.

Puretech obviously didn't participate so diluted to 4.2% .

Surely Puretech should have informed us or did I miss it?

Correction

Puretech shareholding in Vedanta as at 31st December

on a partially diluted basis was 36%.

What happened?

Puretech shareholding in Vedanta at the 31st December 2024 on a non diluted basis was c 34%.

Why no RNS from Puretech concerning this huge dilution.

Very very strange

Puretech shareholding in Vedanta has been diluted to just 4.2% in 2025.

Now that is a surprise and accordingly Vedanta no longer a material investment for Puretech.

I don't know how we missed this dilution.

Strange

Malt

Nordic Capital were reputed to have made an offer of c£2 a share in April which was roundly rejected by the then management but with Lyne now running the show on behalf of the Institutional investors, a bid of £2.5/3 will seal the deal imo

Malt

Given that Cobenfy royalties could be be received by Puretech for many years to come it will not be possible to wind up Puretech in 2 years or so.

Really the only option now is a sale of the company to probably PE who will hold for the receipt of Cobenfy royalties and sell off stakes in Seaport, Celea, Vedanta and Gallop as each reaches its denouement.

Keeping a listed company to do an orderly wind down is difficult particularly as it may take a number of years to finally finish the job.

So sale it is in my opinion at something around £2-2.50 .

ATB

Tuscany

You could be correct .

If Puretech now spin off Gallop Oncology, then the company will in effect be a holding company with significant cash , Royalties from Cobenfy and large shareholdings in potentially blockbuster companies , Seaport, Celea, Vedanta and Gallop.

Hopefully that is Lynn's Strategic objective because there appears no other course of action to increase shareholder value.

Maybe we will find out more at the Interims.

In the meantime inertia reigns.

ATB

Well Puretech has now placed the LYT-100 IPF programme in a new Founded company , Celea Therapeutics.

Puretech confirmed that discussions with the FDA ON Pjase 3 protocols for LYT-100 will take place in the current quarter.

What should be good news for Puretech shareholders has been totally ignored by the market as usual

You begin to wonder what it will take to drive the SP forward given Puretech's funding requirements are now being dramatically reduced by the creation of Celea and the financing of LYT-100 Phase 3 trial to be externally funded.

A major catalyst has now effectively been greeted with a big yawn by a thoroughly disinterested market.

Hugely disappointing.

PS

Another dispiriting week for Puretech shareholders with SP down 8.5%

The Interims can't come soon enough.

Seaport is now a separate company with Puretech holding c36% of the shares.

If Seaport is listed it could have a valuation of c$1billion or more based on the total financing of c$365m received to date and the recent progress made on its drug therapies.

While a listing in the short-term is unlikely it would demonstrate to the market the stark anomaly in the Puretech valuation.

News on the LYT-100 Phase 3 progress and partnership

is another potential catalyst for a rerating.

Patience as usual but we need some positive news soon

ATB

PS

The half year results were announced on the 28th August last year so we are hopefully close to getting some news.

JSB

Even though it was a small reduction in Invesco's shareholding with approx 360,000 shares sold , it would have been sufficient to depress the SP given the lack of liquidity at the moment.

Invesco like other Institutional investors have had enough of the poor share price performance and are seeking major change.

We can only hope for some significant positive developments soon perhaps at the Interims announcement due shortly.

There are no catalysts to drive the SP forward at present but this could change.

Sales of Cobenfy are progressing well albeit at an early stage and BMS said that Cobenfy prescription levels are ahead of expectations in the recent results announcement.

Frustrating to see the SP languishing for so long but I will hold until the end of the year

ATB

Iris

The Nasdaq Biotech Index is up c11% in the past 6 months from bombed out lows .

Puretech is up 40% from its lows of 105p earlier in the year but still well off historical highs .

Encouraging nonetheless.

CD

I have maintained that we need a breakout past 150p to establish some form of momentum.

With Stock Markets at record highs it is now time for the Biotech sector to start catching up imho

JSB

Thanks

JSB

New presentation not yet up on Puretech website .

Do you have a link ?

Thanks